QIP Closed; 1,81,10,473 Shares Allocated at Rs. 165.65 Each

The QIP closed on 29th September, 2026.

Wed 30 Sep 2026

Shares Allocated

1,81,10,473 equity shares

Issue Price

Rs. 165.65 per share

Premium Per Share

Rs. 155.65

Discount to Floor Price

Rs. 8.71 per share (5%)

QIP Closure Date

29th September, 2026

What was decided

The Committee of the Board of Directors for Operations met on 29th September, 2026 and approved the closure of the company's Qualified Institutions Placement, which had opened on 24th September, 2026.

Terms of the allocation

• Shares allocated: 1,81,10,473 equity shares of face value Rs. 10 each.
• Issue price: Rs. 165.65 per equity share, which includes a premium of Rs. 155.65 per share.
• Discount: Rs. 8.71 per share (5%) to the floor price of Rs. 174.36 per share, as permitted under Regulation 176(1) of the SEBI ICDR Regulations.

Other approvals

• Closure of the Issue after receipt of application forms and funds in the escrow account from eligible qualified institutional buyers.
• Adoption of the Placement Document dated 29th September, 2026, also made available on the company's website.
• Finalisation of the confirmation of allocation note to be sent to the eligible QIBs.

What it means for investors

A QIP raises fresh equity capital from institutional investors. New shares issued to them increase the total share count, so existing shareholders' proportionate holding is diluted, while the company receives fresh funds. The pricing at a 5% discount to the floor price is the maximum discount allowed under the SEBI ICDR framework. The placement document dated 29th September, 2026 is to be shared with the stock exchanges.

The committee meeting commenced at 9:00 PM and concluded at 09:30 PM.

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